CAFR 2016

Tax rates for the current and three preceding fiscal years were adopted, as follows, at the same overall

rate, however, different allocations among purposes noted:

2016

2015

2014

2013

General Fund

$.5872

$.5897

Economic Develop.

Housing Partnership

.0050

.0069

.0050

.0069

.0050

.0069

.0025

.0069

Transit Authority

.0334

Total Tax Rate

$.6325

The

local option sales tax

collection amounted to $47,442,711 as compared to the previous year's

collection of $44,713,374, an increase of approximately $2.7 million or 6.1% from last year, however,

we note a 17.6% gain in the ten year trend for this revenue source. Guilford County uses the “ad

valorem” (property tax) method to distribute its allocated sales tax receipts to municipalities within

the County and as a result, sales tax receipts for Greensboro may fluctuate from year to year,

depending on the proportion of property tax levies of each of the municipalities within the County,

compared to the total collected. Greensboro’s FY 2016 share of the sales tax distribution increased

due to a decline in Guilford County’s property tax rate from FY 2015 to FY 2016, however, healthy

gains were also noted in retail sales activity this year. Local option sales taxes represent

approximately 16.2% of overall general governmental fund revenues in FY 2016.

The total sales tax rate in Guilford County is 6.75% with 4.75% charged for the general state rate and

2.00% charged for the local option. The local option sales tax currently in effect is distributed to the

County as follows, with subsequent distribution to Greensboro and the other municipalities in the

County, based on the “ad valorem” method:

Article 39 (1%) Point of Origin

Article 40 (1/2%) Per Capita

Article 42 (1/2%) Point of Origin

Greensboro’s occupancy tax collection of $3,905,980 has increased 34.4% over the ten-year period

ending June 30, 2016 and generated a 1% gain this year. Construction of three new hotels is planned

for downtown Greensboro in the near term.

Intergovernmental Revenues

amounted to $55,388,556 as compared to previous year revenues of

$55,031,166.

State-shared and grant revenues are a major source of funding for municipal operations

and services, with intergovernmental revenues comprising 18.9% of total general governmental

revenues, as compared to 18.8% in the previous year.

Licenses and permits

amounted to $4,390,773 compared to previous year revenues of $6,803,591 a

decrease of 35.5%, primarily due to the elimination of the authority to issue business privilege

licenses by the General Assembly.

Fines and forfeitures

amounted to $1,864,116 as compared to the previous year's collection of

$2,211,438, a decrease of 15.7% over last year. The decrease was primarily noted for parking

violations and false burglar alarms fines.

Charges for current services

amounted to $19,919,398 as compared to the previous year's revenue of

$21,896,358 a decrease of 9% primarily due to sale of certain real estate in the Housing Partnership

Revolving Fund in FY 2015 and a decrease in 911 surcharge revenue for the Emergency Telephone

System Fund, both are Special Revenue Funds.